Excel FLOOR function

Summary

The Excel FLOOR function rounds a number down to the nearest multiple of significance. This function is essentially the counterpart to the CEILING function and is used when you need to round down to a specific increment. It is commonly used in financial calculations, inventory management, and scenarios where rounding down to specific units is required.
Syntax
				
					=FLOOR(number, significance)
				
			
  • number: The value you want to round down.
  • significance: The multiple to which you want to round the number down.
Return value
A number rounded down to the nearest multiple of the specified significance.

How to use

Use FLOOR to round a number down to the nearest multiple of a specified significance. Provide the number to be rounded as the first argument and the multiple (significance) as the second argument.

Examples

Simple FLOOR
Rounding Down to Nearest Multiple: To round a number down to the nearest multiple of 5:
				
					=FLOOR(7, 5)
				
			
This formula rounds the number 7 down to the nearest multiple of 5, resulting in 5.
FLOOR in Financial Calculations
Rounding Prices to Nearest Dollar: To round a price down to the nearest whole dollar:
				
					=FLOOR(49.25, 1)
				
			
Rounds the amount $49.25 down to the nearest dollar, resulting in $49.
FLOOR for Inventory Management
Calculating Pack Sizes in Inventory: To determine pack sizes by rounding down to the nearest 100 units:
				
					=FLOOR(550, 100)
				
			
This rounds 550 units down to the nearest 100 units, yielding 500 units.
FLOOR with Fractional Significance
Rounding Down to Nearest Fractional Value: To round a number down to the nearest quarter (.25):
				
					=FLOOR(10.1, 0.25)
				
			
This rounds 10.1 down to the nearest quarter, resulting in 10.
FLOOR for Time Calculations
Rounding Time to Nearest Hour in Scheduling: To round time (in hours) down to the nearest half-hour:
				
					=FLOOR(A2, 0.5)
				
			
Assuming A2 contains a time in hours, this formula rounds it down to the nearest half-hour.

Additional Notes

  • FLOOR is frequently used in contexts where rounding down to specific units is crucial, such as financial analysis, inventory management, and production planning.
  • It’s important to note that FLOOR always rounds numbers down. If the number is already a multiple of the significance, no rounding occurs.
  • The function can handle both positive and negative numbers, but the sign of the significance should match the sign of the number for expected results.

Related Functions

Excel ROUNDUP function

The Excel ROUNDUP function rounds a number up, away from zero, to a specified number of digits, ideal for precautionary measures in calculations.

Excel FLOOR.MATH function

The Excel FLOOR.MATH function rounds numbers down to the nearest integer or multiple, flexible for financial and statistical analysis.

Excel CEILING.MATH function

The Excel CEILING.MATH function rounds numbers up to the nearest integer or multiple, versatile for financial calculations.

Excel ROUND function

The Excel ROUND function rounds a number to a specified number of digits, crucial for accurate financial and scientific calculations.

Excel CEILING function

The Excel CEILING function rounds numbers up to the nearest multiple of significance, ideal for pricing and budgeting calculations.

Excel ROUNDDOWN function

The Excel ROUNDDOWN function rounds a number down, away from zero, to a specified number of digits, useful for conservative estimations.

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